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Topic: Do I really have to pay taxes on crypto investments? - page 29. (Read 2483 times)

newbie
Activity: 112
Merit: 0
there are so many info in the internet on how crypto is taxed. can someone make it short and clear to me please?
sure. it actually is pretty simple. see investors and traders have to file many (but not all) crypto transactions. and it doesn’t really matter to irs whether those were profitable or not. plus, there are regulated sites that provide info on their crypto clients. they are tricky. so you really have to pay your taxes.
yeah, I get that. I just dont know what to include in my declaration…???
well, you should report all your trades. For instance, if you earned on mining, or received an airdrop, got rewarded for services rendered or goods, this means you had certain income. So you must pay income tax which depends on the sum of profit. (10-37%)
what if I exchanged my crypto for fiat?
I actually just read that you have to pay tax when you convert crypto into fiat and it seems really unfair.
newbie
Activity: 140
Merit: 0
there are so many info in the internet on how crypto is taxed. can someone make it short and clear to me please?
sure. it actually is pretty simple. see investors and traders have to file many (but not all) crypto transactions. and it doesn’t really matter to irs whether those were profitable or not. plus, there are regulated sites that provide info on their crypto clients. they are tricky. so you really have to pay your taxes.
yeah, I get that. I just dont know what to include in my declaration…???
well, you should report all your trades. For instance, if you earned on mining, or received an airdrop, got rewarded for services rendered or goods, this means you had certain income. So you must pay income tax which depends on the sum of profit. (10-37%)
what if I exchanged my crypto for fiat?
newbie
Activity: 112
Merit: 0
there are so many info in the internet on how crypto is taxed. can someone make it short and clear to me please?
sure. it actually is pretty simple. see investors and traders have to file many (but not all) crypto transactions. and it doesn’t really matter to irs whether those were profitable or not. plus, there are regulated sites that provide info on their crypto clients. they are tricky. so you really have to pay your taxes.
yeah, I get that. I just dont know what to include in my declaration…???
well, you should report all your trades. For instance, if you earned on mining, or received an airdrop, got rewarded for services rendered or goods, this means you had certain income. So you must pay income tax which depends on the sum of profit. (10-37%)
newbie
Activity: 140
Merit: 0
there are so many info in the internet on how crypto is taxed. can someone make it short and clear to me please?
sure. it actually is pretty simple. see investors and traders have to file many (but not all) crypto transactions. and it doesn’t really matter to irs whether those were profitable or not. plus, there are regulated sites that provide info on their crypto clients. they are tricky. so you really have to pay your taxes.
yeah, I get that. I just dont know what to include in my declaration…???
newbie
Activity: 112
Merit: 0
there are so many info in the internet on how crypto is taxed. can someone make it short and clear to me please?
sure. it actually is pretty simple. see investors and traders have to file many (but not all) crypto transactions. and it doesn’t really matter to irs whether those were profitable or not. plus, there are regulated sites that provide info on their crypto clients. they are tricky. so you really have to pay your taxes.
newbie
Activity: 140
Merit: 0
there are so many info in the internet on how crypto is taxed. can someone make it short and clear to me please?
newbie
Activity: 112
Merit: 0
if I need to pay for the free circulation of crypts, I am in.
I am also in if the tax is small.
it is OK if the tax is not more than 5%.
if there are decentralized exchanges, it is just impossible to identify crypto owner by wallet addresses. so you don’t even have to worry.
newbie
Activity: 140
Merit: 0
Member
if I need to pay for the free circulation of crypts, I am in.
I am also in if the tax is small.
it is OK if the tax is not more than 5%.
you think it's hard to get around tax? There are many ways to do this, both risky and not.
newbie
Activity: 98
Merit: 0
if I need to pay for the free circulation of crypts, I am in.
I am also in if the tax is small.
it is OK if the tax is not more than 5%.
newbie
Activity: 140
Merit: 0
Member
if I need to pay for the free circulation of crypts, I am in.
I am also in if the tax is small.
newbie
Activity: 98
Merit: 0
if I need to pay for the free circulation of crypts, I am in.
newbie
Activity: 112
Merit: 0
Of course, at the moment, the whole charm of cryptocurrency is its anonymity and the absence of taxes.
newbie
Activity: 112
Merit: 0
The bottom line is that taxation is a direct way to legalize cryptocurrency
Well, of course, control over black markets, etc., etc.
newbie
Activity: 140
Merit: 0
Member
The bottom line is that taxation is a direct way to legalize cryptocurrency
newbie
Activity: 112
Merit: 0
another question is that countermeasure methods for dealing with concealers are also becoming more sophisticated. So maybe we won’t have a choice.
What is there to prove? If large amounts are displayed in fiat, then it’s no doubt you will be of interest or IRS.
newbie
Activity: 140
Merit: 0
another question is that countermeasure methods for dealing with concealers are also becoming more sophisticated. So maybe we won’t have a choice.
newbie
Activity: 112
Merit: 0
it’s unambiguously that people who are engaged in crypto will not even have a desire to cooperate with the authorities, including in terms of taxes.
newbie
Activity: 140
Merit: 0
Member
you don’t want taxes, but you have to pay them. still, here on the forum they were dying demanding the legalization of cryptocurrencies. and so the government has it for you.
Bad thinking. If desired, the authorities can legalize whatever they want. Although I do not think that taking a tax on cryptocurrency assets is, in principle, honest.
I agree. After all, the state remains unaffected by the exchange through the crypt, so it’s not very clear what right they have for this tax.
However, we still have to pay taxes. And nothing can change that.
And how can they calculate that a person makes money on crypto? No way they can do that.
especially if You put at least a little effort on how to hide it;))
newbie
Activity: 98
Merit: 0
you don’t want taxes, but you have to pay them. still, here on the forum they were dying demanding the legalization of cryptocurrencies. and so the government has it for you.
Bad thinking. If desired, the authorities can legalize whatever they want. Although I do not think that taking a tax on cryptocurrency assets is, in principle, honest.
I agree. After all, the state remains unaffected by the exchange through the crypt, so it’s not very clear what right they have for this tax.
However, we still have to pay taxes. And nothing can change that.
And how can they calculate that a person makes money on crypto? No way they can do that.
newbie
Activity: 140
Merit: 0
Member
you don’t want taxes, but you have to pay them. still, here on the forum they were dying demanding the legalization of cryptocurrencies. and so the government has it for you.
Bad thinking. If desired, the authorities can legalize whatever they want. Although I do not think that taking a tax on cryptocurrency assets is, in principle, honest.
I agree. After all, the state remains unaffected by the exchange through the crypt, so it’s not very clear what right they have for this tax.
However, we still have to pay taxes. And nothing can change that.
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